Turkish authorities recently arrested a gang of cryptocurrency hackers for hacking victims\u2019 digital currency wallet via sim swap.<\/p>\n
The Turkish authorities recently arrested a group of eleven suspects involved in a virtual currency hack via sim swapping. According to Trustnodes, <\/em>the sim swapping digital currency syndicate hacked<\/a> victims\u2019 cryptocurrency wallet by deceitfully obtaining their phone numbers from a phone company.<\/p>\n A joint raid saw the detention of ten out of the eleven suspects. However, the police released the remaining suspect on bail but will remain under judicial control.<\/p>\n About fourteen victims reported to local authorities in Istanbul, when they discovered that fraudsters hacked their virtual currency wallets. The hackers, using fake IDs, told telephone operators that the victims\u2019 mobile phones were stolen. They further requested another sim card and canceled the sim cards of the real owners.<\/p>\n Furthermore, the virtual currency hackers used the two-factor authentication method to rest the victims\u2019 passwords. This gave the hackers access to the victims\u2019 cryptocurrency wallets. The digital currency hackers stole over $80,000 worth of virtual currency. The fraudsters spread the assets across various accounts to cover their tracks.<\/p>\n The police raided fraudsters\u2019 apartment and confiscated eighteen cell phones, fake identity cards, two fake driver\u2019s licenses, among others.<\/p>\n Digital currency theft via impersonation and sim swapping is a growing trend that is plaguing the industry and targeting investors. Fraudsters call up telephone companies and impersonate their victims to get their victims\u2019 sim cards, which enables access to phone numbers and cryptocurrency wallets.<\/p>\nCryptocurrency Theft via Sim Swapping<\/h3>\n